We have no risk to the upside and we are betting the Rate change is already priced in and if something strange happens and we get a move higher we don't have any risk to the upside.
Our break even is at $113.67
That's 2.5% protection move to the downside. Last two times we had a rate change we had a move of 1.6% and 1.7%.
With 39 days to expiration, we have a 74% probability to make money in this trade.